Mingpai Points Incentive: 20 Must-Grab Projects Summary for 2024
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Mingpai Points Incentive: 20 Must-Grab Projects Summary for 2024
A well-designed points model and strategy are key to ensuring the short- and medium-term sustainability of a points system.
Navigating Web3 tides with focused insightsBy Karen, Foresight News
An increasing number of projects are launching point systems to encourage user participation and improve retention and loyalty. This is also widely seen as an effective traffic-driving strategy ahead of potential airdrops. For users, it not only offers the prospect of tangible future rewards but also allows them to earn proportional incentives based on their contributions.
Of course, when designing and implementing point systems, it's important to balance incentives with economic sustainability. A well-structured points model and strategy are key to ensuring short- and mid-term viability.
Foresight News has compiled a list of 20 projects that have launched points or reward programs for readers to explore.
Blast
Blast is a Layer2 network launched in late November by Pacman, founder of Blur, backed by Paradigm, Standard Crypto, and eGirl Capital. Blast’s (initial) yield comes from Lido and MakerDAO—Lido provides ETH staking yield, while MakerDAO’s return stems from on-chain U.S. Treasury yields. As of writing, Blast’s TVL has reached $1.167 billion, with nearly 90,000 participants.
Strategy:
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Deposit ETH, USDC, Tether, stETH, WETH, DAI;
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Invitations.
Blur
At the time of the Blast announcement, Blur also launched its third season of airdrop rewards, which will conclude in May. 50% of Season 3 rewards will go to BLUR holders (Holder Points), and 50% to Blur community members (Blur Points).
Under the Holder Points program, users earn points by depositing BLUR, which can be withdrawn at any time. When Blast governance launches in May 2024, distributions will be based on total Holder Score (Holder Points × multiplier). Users earn one point per hour for each BLUR held. The multiplier starts at 1x and increases by 0.5x each month after the user’s first deposit.
Under the Blur Points program, users earn points through bidding, listing, and lending. Bidding and listing points apply to all collections and accrue at the same rate, with higher-risk bids earning the majority of points. Lending points apply only to collections supported by the Blend protocol and are awarded at half the rate of bid/listing points.
Strategy:
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Deposit BLUR;
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Bid, list, and lend.
Manta Network
Manta Network is a modular L2 protocol. In July 2023, its developer p0x labs raised $25 million at a $500 million valuation, led by Polychain Capital and Qiming Venture Partners. According to the official website, the campaign to deposit tokens on Manta Network to earn Manta token rewards will end in January 2024.
Strategy:
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Cross-chain transactions;
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Invitations.
EigenLayer
EigenLayer is an Ethereum restaking protocol. In March 2023, its team EigenLabs raised $50 million in a Series A round led by Blockchain Capital, with participation from Coinbase Ventures, Polychain Capital, Hack VC, Electric Capital, IOSG Ventures, and others. EigenLayer has introduced restaking points to measure user contributions.
Strategy: Restake liquid staked ETH tokens.
ether.fi
ether.fi is a liquid staking platform that allows users to mint eETH to earn ETH staking rewards, ether.fi points, and EigenLayer points. In February 2023, ether.fi raised $5.3 million in funding co-led by North Island Ventures, Chapter One, and Node Capital, with participation from Arthur Hayes, founder of BitMex.
Loyalty points earned = ETH staked × 1000 × number of staking days.
Strategy: Stake ETH to mint eETH.
friend.tech
The Web3 social platform friend.tech sparked a SociaFi craze and plans to launch its v2 version in spring 2024.
Strategy: Invitations + interactions.
Scallop
Scallop is a lending protocol on Sui that launched its airdrop points system in early January and completed its snapshot before January 1, 2024.
Phase 1 aims to support early adopters, including Zealy participants, verified “Sui Scalloper” roles on Discord, lenders and borrowers on the Scallop platform, and specific role-based contributors. Any user who has borrowed or lent over $100 qualifies for the airdrop. Users earn points based on activity and engagement, which can be used to generate Mysterious Boxes. These boxes come in tiers—Bronze, Silver, Gold, Platinum, Diamond, and Legendary—and can be opened upon token launch to claim airdropped tokens. Scallop will soon announce details about Phase 2.
Grass
Grass is a decentralized incentivized web scraping network. In December 2023, its parent company Wynd Network raised $3.5 million in a seed round led by Polychain Capital and Tribe Capital, with participation from Bitscale, Big Brain, Advisors Anonymous, Typhon V, Mozaik, and others. Wynd’s total funding now stands at $4.5 million.
Grass currently runs a referral program and points campaign. Grass has stated it will reward early adopters, and upon testnet completion, these points will be retroactively converted into network ownership.
Strategy:
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Download and use;
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Referrals (earn 20% of referred user’s points);
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When a referred friend invites others (earn 10% of second-level referral points).
Rainbow
Rainbow is a Web3 wallet that raised $18 million in a Series A round in February 2022, led by Seven Seven Six, the venture fund founded by Reddit co-founder Alexis Ohanian.
In December 2023, Rainbow launched its Rainbow Points program, awarding points to all Ethereum network users on Rainbow. Users migrating from MetaMask to Rainbow receive additional points, and loyal users earn more. Additionally, users who previously used MetaMask’s swap feature and import their MetaMask wallet into Rainbow can earn up to 150,000 bonus points.
Strategy:
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Import MetaMask wallet into Rainbow;
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Swap and cross-chain within Rainbow;
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Invitations.
Magic Eden
Magic Eden is the largest NFT marketplace on Solana and features a dedicated Rewards Center page.
Strategy:
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Log in every 24 hours to earn diamond rewards.
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Set a profile username to earn 50 diamonds.
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Listings;
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Bids.
Sleepless AI
Sleepless AI is a Web3+AI companion gaming platform backed by investors including Foresight Ventures, Binance Labs, and Folius Ventures. It was also Binance Launchpool’s 42nd project, with new coin mining ending on January 4 at 08:00, and trading going live on Binance at 18:00 that day.
Sleepless AI will allocate 1% of its total token supply for the initial airdrop.
Strategy:
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Daily check-in (may require UID binding);
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Voting and auction participation (now ended).
Zeta Markets
Zeta Markets is a Solana-based DeFi derivatives protocol. In October 2023, it launched Z-Score, allowing users to earn scores based on trading activity on Zeta. Additionally, a user’s 24-hour PnL ranking determines a reward multiplier. Season 1 of Z-Score has concluded, and Season 2 will be announced in the first week of 2024.
marginfi
marginfi is a lending protocol on the Solana ecosystem. In July 2023, it announced the launch of its mrgn points program.
Strategy:
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Deposits;
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Borrowing;
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Referrals.
Tensor
Tensor is an NFT trading platform on the Solana ecosystem. Its points campaign is currently in Season 3, though Tensor has hidden the points counter this season to prevent abuse and foster a healthier market.
Strategy:
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Listings;
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Referrals.
mint.fun
mint.fun is an NFT mint aggregator. Its !fundrop campaign ended in December 2023. Currently, !fundrop Pass holders can mint !fundrop Finale IDs on Base, with ID attributes generated based on points, streaks, and achievement levels.
Philand
Philand is a visual on-chain identity platform that allows users to build land based on on-chain activity. In February 2023, Phi raised $2 million in a seed round led by Chapter One and Delphi Digital, with Polygon Ventures participating.
Strategy:
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Claim EXP;
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Build land.
Orbiter Finance
Orbiter Finance, a Layer2 cross-Rollup bridge, introduced O-Points to track user contributions. O-Points consist of base points (awarded for using Orbiter Finance to perform cross-chain transactions), activity points (earned by completing tasks related to Orbiter Finance events), and ecosystem points.
Strategy:
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Cross-chain transactions;
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Complete tasks.
Shell Protocol
Shell Protocol is a DeFi hub on Arbitrum. Its SHELL token generation event (TGE) will launch in 20 days.
Strategy:
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Wrap Toucan NFTs;
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Provide liquidity;
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Wrap tokens.
Reiki
Reiki is an AI-native application and assetization platform powered by Web3Go, a data intelligence network. In July 2023, Web3Go raised $4 million in a seed round led by Binance Labs, with participation from HashKey Capital, NGC Ventures, and others.
Strategy:
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Daily check-ins and task completions to earn Golden Leaves.
Dmail
Dmail is a privacy-focused email system. In July 2023, it completed a Pre-A round with participation from Amino Capital, OIG, Draper Dragon, KuCoin Labs, HG Ventures, Spark Digital Capital, and Vespertine Capital.
Strategy:
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Send emails, referrals, subscriptions.
Over Protocol
Over Protocol is a lightweight node protocol for Layer1 blockchains. Its developer Superblock raised a total of $8 million across two funding rounds in July 2023, with investors including SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp, and NaverZ.
Strategy:
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Download wallet and complete randomized daily reward activities, or accumulate reward points by completing various tasks.
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